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http://dx.doi.org/10.5392/JKCA.2013.13.06.469

Price Evaluations on Tourist of Jeju Tourism Package Product: Focused on Prospect Theory  

Park, Suk-Jin (한국관광개발원)
Kim, Tae-Heon (조선대학교)
Publication Information
The Journal of the Korea Contents Association / v.13, no.6, 2013 , pp. 469-480 More about this Journal
Abstract
This study suggests 12 products regarding the pending question of tourism package price mechanism which is linked directly and indirectly to Jeju Tourism, and shows the following conclusions through inspection in mental accounting principles and framing effect based on prospect theory. First, when presenting the price list of the tourism package, it is needed to present in price bundling. Second, it is proven that it is desirable that information about discount prices open the individual discount information of the basic package and option package to public. Third, it is discovered that experienced tourists in purchasing tourism products are more sensitive to price information (price discount) than inexperienced tourists, so that framing effect conform to Knowledge-assembly theory. The current questions of this study are that 'no discount' information should be presented in bundling, that the method of framing is important in presenting discount product information. It is required not only to grasp the viewpoint of modern people in purchasing tourism products, but also to present ready-to-serve products which can save time, effort, cost to give stability in mental accounting principles.
Keywords
Prospect Theory; Mental Accounting Principle; Framing Effect; Tourism Package Product;
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Times Cited By KSCI : 1  (Citation Analysis)
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